Coterra Energy (NYSE:CTRA) Price Target Raised to $35.00

Coterra Energy (NYSE:CTRA) had its price target raised by Wells Fargo & Company from $32.00 to $35.00 in a research note published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the company. Barclays upped their target price on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Piper Sandler boosted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday. Susquehanna raised their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday. Finally, Scotiabank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Stock Up 0.6 %

Coterra Energy stock opened at $25.58 on Friday. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock has a market capitalization of $18.84 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.67 and a beta of 0.22. The business has a fifty day moving average price of $23.95 and a 200-day moving average price of $25.46.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm earned $0.47 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts forecast that Coterra Energy will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Coterra Energy in the first quarter valued at approximately $656,000. Blair William & Co. IL increased its position in shares of Coterra Energy by 9.0% during the first quarter. Blair William & Co. IL now owns 25,606 shares of the company’s stock worth $714,000 after acquiring an additional 2,112 shares during the last quarter. Banco Santander S.A. acquired a new position in shares of Coterra Energy in the first quarter worth about $633,000. M&G Plc purchased a new position in Coterra Energy in the first quarter valued at about $11,998,000. Finally, Intech Investment Management LLC grew its stake in Coterra Energy by 511.8% during the 1st quarter. Intech Investment Management LLC now owns 55,402 shares of the company’s stock valued at $1,545,000 after purchasing an additional 46,346 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.